Adex Mining Inc.

Adex Mining Inc.

April 21, 2009 16:01 ET

Adex Appoints Interim CEO and Commences Executive Search for Experienced Mine Developer as Permanent CEO

TORONTO, ONTARIO--(Marketwire - April 21, 2009) - Adex Mining Inc. ("Adex" or the "Company") (TSX VENTURE:ADE) is pleased to announce the appointment of J. Errol Farr as the interim President and Chief Executive Officer of the Company effective May 1, 2009. The Company's board of directors will immediately commence a search for a permanent President and Chief Executive Officer who has experience in mine development and mineral production.

Kabir Ahmed, the current President and Chief Executive Officer of Adex, will resign from that position effective May 1, 2009. While in his leadership role at Adex, Mr. Ahmed has been responsible for reviving the Company, listing its common shares on the TSX Venture Exchange, and re-capitalizing its treasury. In addition, over the past 18 months, Mr. Ahmed has worked to prepare the Company's Mount Pleasant Property (the "Property" or "Mount Pleasant"), located in New Brunswick, Canada, for feasibility level studies, with a view to re-commencing mineral production. The Company has completed a 13,300 meter expansion and definition drill program and National Instrument 43-101-compliant Indicated Mineral Resource Estimates for both the tungsten-molybdenum Fire Tower Zone and the tin-indium North Zone at the Property. The Company has also preserved a strong treasury of $3.88 million as of December 31, 2008.

"I am very pleased to have successfully positioned Adex for feasibility, with a view to re-commencing mineral production at Mount Pleasant in the near future", said Kabir Ahmed. "The progress made by Adex to date has been made possible by an engaged board of directors, an experienced management team, and an accomplished team of technical consultants and staff, all of whom have worked tirelessly to advance the Mount Pleasant project."

Mr. Farr, the Company's Chief Financial Officer and a member of the board of directors, commented that, "On behalf of the board of directors and the management team of Adex, I thank Mr. Ahmed for the significant contributions he has made during his tenure in order to move the Mount Pleasant project forward".

Mr. Ahmed will remain as a member of the Company's board of directors.


Adex Mining Inc. is focused on developing its flagship Mount Pleasant Mine Property, a multi-metal project that is host to promising tungsten-molybdenum and tin-indium-zinc-copper mineralization. Located in Charlotte County, New Brunswick, Mount Pleasant is situated approximately 80 kilometres south of Fredericton, the provincial capital, and is 65 kilometres from the United States border. The common shares of Adex trade on the TSX Venture Exchange under the stock symbol "ADE".


Certain statements in this press release may constitute "forward-looking" statements which involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements of Adex, its subsidiary or the industry in which they operate to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. When used in this press release, the words "estimate", "believe", "anticipate", "intend", "expect", "plan", "may", "should", "will", the negative thereof or other variations thereon or comparable terminology are intended to identify forward-looking statements. Such statements reflect the current expectations of the management of Adex with respect to future events based on currently available information and are subject to risks and uncertainties that could cause actual results, performance or achievements to differ materially from those expressed or implied by those forward-looking statements. These risks and uncertainties are detailed from time to time, including, without limitation, under the heading "Risk Factors", in reports filed by Adex with the Alberta, British Columbia and Ontario Securities Commissions which are available at and to which readers of this press release are referred for additional information concerning Adex, its prospects and the risks and uncertainties relating to Adex and its prospects. New risk factors may arise from time to time and it is not possible for management to predict all of those risk factors or the extent to which any factor or combination of factors may cause actual results, performance and achievements of Adex to be materially different from those contained in forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, Adex cannot assure investors that actual results will be consistent with these forward-looking statements. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results.

The forward-looking information contained in this press release is current only as of the date of the press release. Adex does not undertake or assume any obligation to release publicly any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

No securities commission or regulatory authority has approved or disapproved the contents of this press release.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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